Align Capital Partners (“ACP”), announced today that it completed, in partnership with management, an investment in Alliance Source Testing, LLC (“AST” or “the Company”), a leading provider of source emissions (or stack) testing services to industrial facilities in the United States. Terms of the transaction were not disclosed.
AST provides source testing solutions for utility, aluminum, midstream energy, specialty chemical and other types of industrial facilities for permitting and compliance in accordance with mandates from local, state and federal regulatory bodies. The Company services customers’ facilities on a repeated basis, with the frequency determined by regulations for each industry.
“We are excited to partner with AST’s management team to build upon the great success the Company has achieved to date through consistently providing responsive customer service, accurate testing, and timely reporting,” said Rob Langley, Managing Partner at Align Capital Partners. “AST is a great fit with Align Capital Partners’ experience and operating resources, which help grow and professionalize founder-owned businesses.”
“We see the investment by an experienced firm like Align Capital Partners as a notable milestone in the growth of our Company,” commented AST CEO Chris LeMay. “The Align Capital Partners team has an impressive track record of investing in and growing entrepreneurial businesses, and we look forward to partnering with ACP and continuing to deliver unparalleled service to our customers.”
Managing Partner Chris Jones and Vice President Jack Parks worked alongside Mr. Langley on the transaction. Kirkland & Ellis LLP provided legal and advice to ACP, Exit Strategies brokered the transaction and Madison Capital Funding provided financing for the transaction.
About Alliance Source Testing
Alliance provides source emissions testing solutions to customers throughout the United States through offices in Alabama, Arkansas, Pennsylvania and Texas. With expertise in a variety of test methods, Alliance is uniquely qualified to provide customers with the highest quality and most cost-effective source testing solutions available. For more information, visit www.stacktest.com.